Mobility Electronics' shares up as co. narrows Q4 loss

MichaelBaron

NEW YORK (CBS.MW) -- Mobility Electronics
mobe
gained more than 15 percent to $7.75 after the Scottsdale, Ariz., provider of software for wireless devices narrowed its fourth-quarter loss ot $655,000, or 2 cents per share, from its loss of $3.4 million, or 18 cents per share, in the same period a year earlier. Revenue surged 33 percent in the latest three months to $13.7 million from $10.3 million in the same period a year earlier. Looking ahead, Mobility said forecast "at least modest" sequential revenue growth in the first quarter as contributions from its Dell and Targus product channels offset the absence of holiday sales. For the whole of fiscal 2004, the company sees revenue of at least $80 million, and progressive improvements in profitability in each quarter leading to earnings of 8 to 12 cents per share in the fourth quarter.

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